NRF Calls Steel and Aluminum Tariffs ‘Tax on American Families’

March 01, 2018 05:39 PM Eastern Standard Time

WASHINGTON--(BUSINESS WIRE)--In response to President Trump’s announcement today that he plans to
order new tariffs on steel and aluminum, the National Retail Federation
issued the following statement from President and CEO Matthew Shay:

“Make no mistake, this is a tax on American families. When costs of raw
materials like steel and aluminum are artificially driven up, all
Americans ultimately foot the bill in the form of higher prices for
everything from canned goods to automobiles. The reality is that there
is nothing this country will gain from such a one-sided policy. These
tariffs threaten to destroy more U.S. jobs than they will create while
sending an alarming signal to our trading partners and diminishing
markets for American-made products overseas.”

About NRFNRF is the world’s
largest retail trade association, representing discount and department
stores, home goods and specialty stores, Main Street merchants, grocers,
wholesalers, chain restaurants and Internet retailers from the United
States and more than 45 countries. Retail is the nation’s largest
private-sector employer, supporting one in four U.S. jobs – 42 million
working Americans. Contributing $2.6 trillion to annual GDP, retail is a
daily barometer for the nation’s economy.